Bridge Loan for Miami Development Land Acquisition

Funded by BridgeInvest

$3,100,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

06/30/2014

Property Type
Commercial Land
Property City

Miami

Property State

FL

Interest Rate

%

Origination Points

%

Deal Summary

$3.1M Senior bridge loan secured by 7 adjacent commercial parcels in the heart of Miami’s Art and Entertainment District. BridgeInvest was able to structure and fund the bridge loan in less than three weeks and offer a competitive rate in the 9% range. The property is situated along NE 14th Street and N Miami Avenue consisting of approximately 34,000 square feet of land area and 300,000 square feet of development rights. The BridgeInvest team was proud to take part in the continued revitalization of Miami’s Art and Entertainment District and is confident in the success of the project given the Borrower’s unique development experience coupled with the growing demand for new, high-quality residential units in the area. This loan was funded in June 2014.

Funded By

BridgeInvest

Bridge & Construction Loans for CRE in the Southeast and Texas